Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 754]

EXTRACTED TEXT FROM PAGE:

754

BOARD OF TRUSTEES

[January 21

INTERRUPTION OF REGULAR PROCEEDINGS

At this point in the agenda, a request was presented informally to the Secretary from a member of the audience, a Mr. Howard Ehrman who was present with a group of students from the Chicago Circle campus. Mr. Ehrman asked that the proceedings be interrupted to permit discussion related to the approval of funds for visiting speakers at Chicago Circle. The President of the Board ruled the request out of order in that it was not in accord with the Board procedures for hearing presentations. He read aloud excerpts from the statement of procedures but was interrupted repeatedly by Mr. Ehrman and by others among the audience. Mr. Hughes indicated that unless there was order he would ask the Security Officers to clear the room of those creating the disturbance. The group agreed to maintain order and the agenda proceeded as follows.

PARTICIPATION IN UNITED STATES GUARANTEED LOAN PROGRAM (10) The United States Department of Health, Education, and Welfare has recently approved educational institutions as participants in the United States Guaranteed Loan Program, under which a student may borrow from such an institution with the loan fully guaranteed by the federal government. In addition, in order to encourage lending under present high interest rates, the Congress has authorized a payment of 2 per cent interest over the life of the loan, in addition to the rate charged the borrower. This supplementary interest rate can be revised as to new loans in any month and will change with variations in the prime rate. The maximum interest rate that can be charged to students under this program is 7 per cent; however, the rates charged by the University to students will be in accordance with its established policies. I recommend that the Vice President and Comptroller be authorized to apply to the Department of Health, Education, and Welfare for acceptance of the University as a lending agency under this program, and to use any loan funds that may be available to make loans under the program.

On motion of Mr. Jones, this recommendation was approved.

APPROPRIATIONS FOR NONRECURRING EXPENDITURES Urbana-Champaign (11) After review by the Urbana-Champaign Committee on Nonrecurring Appropriations, the Chancellor recommends the following appropriations from the: Urbana-Champaign General Reserve Renovation and remodeling for which funds are assigned to the Department of Plant and Services : Remodeling at University High School for the College of E d u c a t i o n . . . . $13 000 Remodeling at 26 East Springfield Avenue, Champaign, for the Department of Art 13 80S Remodeling in the Natural History Building for the Geology L i b r a r y . . . 16 165 Remodeling in the Veterinary Medicine Building for the Department of Veterinary Physiology and Pharmacology 12 80S Upgrading the security system at the Krannert Art Museum 20 145 Total, Urbana-Champaign General Reserve $75 920 Urbana-Champaign Contract Research Reserve-General College of Agriculture: Department of Animal Science, sheep research facility for the Dixon Springs Agricultural Center $23 000 Renovation and remodeling for which funds are assigned to the Department of Plant and Services : Air conditioners for 1005 West Nevada Street, Urbana, for the Department of Special Education 13 870